Results 11 to 20 of about 73,003 (41)
The Global Capital Flows Cycle: Structural Drivers and Transmission Channels
Social Science Research Network, 2019 In this paper, we study the effects of structural shocks that influence global risk – the main factor behind a “global capital flows cycle” – and how risk, in turn, is transmitted to capital flows.
M. Habib, F. Venditti
semanticscholar +1 more source
Understanding Markups in the Open Economy
, 2015 This paper presents a new model of Bertrand competition between heterogeneous firms in the open economy where the macroeconomic distribution of markups responds to the degree of trade openness and the underlying level of technology in each trading ...
Beatriz de Blas, Katheryn Russ
semanticscholar +1 more source
The Macroeconomics of the Greek Depression
Social Science Research Network, 2019 Greece experienced a boom until 2007, followed by a collapse of unprecedented magnitude and persistence. We assess the sources of the boom and the bust, using a rich estimated dynamic general equilibrium model.
Gabriel Chodorow-reich +2 more
semanticscholar +1 more source
Countercyclical Capital Regulation in a Small Open Economy DSGE Model
Social Science Research Network, 2018 We examine, conditional on structural shocks, the macroeconomic performance of different countercyclical capital buffer (CCyB) rules in small open economy estimated medium scale DSGE.
Matija Lozej +2 more
semanticscholar +1 more source
Fiscal Rules and the Sovereign Default Premium
Social Science Research Network, 2012 We study fiscal rules using a sovereign default model. A debt-brake (spread-brake) rule imposes a ceiling on the fiscal deficit when the sovereign debt (spread) is above a threshold.
J. Hatchondo +2 more
semanticscholar +1 more source
Optimal Foreign Reserves and Central Bank Policy Under Financial Stress
Social Science Research Network, 2020 We study foreign reserves accumulation and liquidity policy in an open economy under financial stress. Firms and households finance investment and consumption by borrowing from banks, which borrow from abroad.
L. Céspedes, Roberto Chang
semanticscholar +1 more source
Phillips Curves in the Euro Area
Social Science Research Network, 2019 We perform a robust estimation of the Phillips curve in the euro area using a battery of 630 theory-driven models. We extend the existing literature by adding model specifications, taking into account the uncertainty in the measurement of variables and ...
Laura Moretti +2 more
semanticscholar +1 more source
Distortions and the Structure of the World Economy
American Economic Journal: Macroeconomics, 2017 We model the world economy as one system of endogenous input-output relationships subject to frictions and study how the world’s input-output structure and world’s GDP change due to changes in frictions.
Lorenzo Caliendo +2 more
semanticscholar +1 more source
The Twin Ds: Optimal Default and Devaluation
The American Economic Review, 2014 A salient characteristic of sovereign defaults is that they are typically accompanied by large devaluations. This paper presents new evidence of this empirical regularity known as the Twin Ds and proposes a model that rationalizes it as an optimal policy
Seunghoon Na +3 more
semanticscholar +1 more source
Interest Rates, Leverage, and Business Cycles in Emerging Economies: The Role of Financial Frictions
, 2013 Countercyclical country interest rates have been shown to be an important characteristic of business cycles in emerging markets. In this paper we provide a microfounded rationale for this pattern by linking interest rate spreads to the dynamics of ...
By Andrés Fernández, Adam Gulan
semanticscholar +1 more source